Got to my desk at 6.55am GMT – I believe that it’s important that I start the day with my Winner’s Bible exercise to get into the right mindset for the day – and because I have got the discipline strategy down fairly well now – I can get it sorted out very quickly.
Cable – entered limit sell order and sold EU at market.
On Friday discovered that FXCM will sometimes give me positive slippage – 3 pips – which never happened with CMC – I think that CMC gives negative slippage to the customer and keeps positive slippage itself – if this were true, then it would be another profitable revenue stream for CMC.
The 1H trend is bearish for both EU and GU. The 5M trend is sideways, albeit volatile, for both pairs. The EU 7am candle was bearish. The GU 7am candle was neutral.
Equity markets stabilised a little on Friday, after the significant decline on Thursday. Gold also stabilised on Friday but continues to trade well below prior support of $1,340.
Both trades are still open at 7.30am.
After today, I will have had 39 completed trades on this strategy.